China's Strategic Move to Boost Private Economy

China is fostering a supportive political, economic, and social environment for its private economy, implementing targeted policies to address challenges faced by private firms. This comes after a meeting where President Xi Jinping urged tech giants to capitalize on China's market strengths and show confidence in its economic model.

China is enhancing conditions for its private economy by tailoring specific policies aimed at easing the challenges faced by private companies, according to a state planner. This revelation was made during a broadcast on state media channel CCTV.

This announcement follows a significant meeting led by President Xi Jinping, who convened with key figures in China's tech industry on Monday. The president encouraged them to leverage their capabilities and trust in China's economic framework and market potential.

Such efforts represent China's commitment to bolstering its domestic private sector amidst global economic shifts, reinforcing the nation's strategic focus on innovation and development.

(With inputs from agencies.)